Zoho profit soars to Rs 1,918 crore in FY21

Sridhar Vembu-led Zoho, best known for its eponymous online office suite, has delivered another year of stupendous growth in 2021 with profits surging over two-fold during the fiscal year ending March 2021, Entrackr reported.

Its revenue from operations climbed 22.3% to around Rs 5,230 crore ($697 mn) during FY21 from Rs 4,274 crore ($570 mn) in FY20, the company’s annual financial statements filed with the RoC show.

Chennai-based Zoho generates majority of its revenues through the sale of its cloud software suite licenses and software subscription fee collected from its clients across 12 geographies around the world. It posted a profit of Rs 1,918 crore in FY21, against Rs 800.8 crore in FY20, according to Entrackr.

Incidentally, Freshworks, which was listed on NASDAQ in September 2021, reported $371.0 mn (Rs 2,756 cr) in revenue in CY21. It reported a loss from operations of $204.8 mn (Rs 1,521 cr), compared to $56.1 million (Rs 416 crore) in 2020.